Property Investment Tips: The importance of real estate goals

By the resi financial blog team, 16 January 2014

One of the best ways to go about starting a successful investment property portfolio isn't to take your time saving money before jumping into the real estate market head first. While this can help, the best aid you can give yourself is to have a clear set of goals you want to achieve.

If this sounds like it will take a long time, you could be right. Understanding your motivation for property investment and figuring out the best steps to take towards achieving this is an essential part of protecting your finances and securing a viable property option.

Are you in this to accumulate wealth and provide for yourself and your family in the future? Or are you hoping to build a career out of buying and selling properties, with your portfolio being the main source of your income?

These decisions will influence many different aspects of your investment, including the type of home loan you end up selecting, as well as the features, facilities and extra add-ons that can be used to help you get the most out of your finances.

But one of the best reasons for having goals is knowing when you've achieved them. Entering into investment blindly can be exhausting if you have no endgame. Whether or not this means giving yourself a set period of time or a financial goal, having something to work towards will help you to measure the success of your investment.

Something as simple as having a monthly target rental yield or a set return to make through capital gains will give you focus, which is an important part of running and maintaining a successful portfolio.

Now could be the perfect time to get in contact with a financial expert about the investment home loan options available to you to begin planning your next step.